Receiver appointed for Atrium Health and Senior Living operations in Wisconsin

Atrium Health and Senior Living said Friday that it has reached an agreement with its lender to have a receiver appointed for 32 nursing homes and assisted living centers in Wisconsin and one nursing home in Michigan.

The company, based in Little Falls, NJ., has 23 nursing homes and nine assisted-living centers primarily in central and northern Wisconsin as well as the nursing home in Michigan.

The Circuit Court of Wood County on Friday appointed Michael Polsky of Beck, Chaet, Bamberger & Polsky S.C. in Milwaukee as receiver.

The receivership will enable residents of the nursing homes and assisted living centers to continue to receive care and for the facilities to pay employees and vendors.

A receivership is a state-court proceeding similar to bankruptcy.

“Our main focus at this time is to stabilize the company and ensure that residents continue to receive seamless quality care in the centers from the staff they have come to know,” Polsky said in a statement. “This plan also helps ensure that all payroll and benefits are provided to employees and that vendors are paid for ongoing services on a timely basis.”

Polsky has hired Health Dimensions Consulting Inc., which does business as Health Dimensions Group, as operations consultant during the receivership. The company, based in Minneapolis, is a consulting and management firm with expertise in post-acute, long-term care and senior living.

Last year, Polsky was appointed receiver for 65 nursing homes and assisted-living centers, including 28 in Wisconsin, previously managed by Fortis Management Holdings.